The WEF created the index using a variety of objective and subjective measures.

Each country's score, from one to seven, is based on factors including the rate at which people studied at a university or an equivalent, such as a nursing college.

The score is also based on answers provided by business leaders from each country to five questions including "In your country, how well does the education system meet the needs of a competitive economy?" and "In your country, to what extent do companies invest in training and employee development?"

10. New Zealand

New Zealand constantly ranks among the top education systems in the world. The country's education department is innovative: In September, the government outlined plans to introduce online education courses, in which students are not required to attend school on certain days of the week.

8. United States

A large proportion of adults in America, 43%, have a university education. That is the fifth-highest proportion in the the Organisation for Economic Cooperation and Development, an intergovernmental group of 34 developed countries.

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7. Norway

Norway has high levels of taxation and invests heavily in education. It devotes an annual expenditure of about £11,000 ($14,000) per pupil from primary to tertiary education — the third-highest figure in the OECD.

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6. Denmark

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Score: 5.9

Denmark is the OECD country that spent the largest share of its wealth on education, with a total expenditure on educational institutions of 7.9% of its gross domestic product. It is a major priority in the country, one of the few countries where education expenditure actually grew during the financial crash of 2008-2010.

4. Switzerland

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Score: 6.0

A large majority of Switzerland's population has attained a full secondary education: 86% of 25- to 64-year-olds. The country spends a lot on it: an average of £12,500 ($16,000) per student per year, compared with the EU average of £7,500 ($9,500).

3. Netherlands

The Dutch rank highly in many fields of education. A third of Dutch 25- to 64-year-olds hold a university degree, which is significantly higher than the OECD average of 24%.

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2. Finland

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Score: 6.2

Finland's education system is widely acclaimed, especially since the 2010 documentary "Waiting for Superman" compared it favourably with the US's. Teachers are selected from the top 10% of the country's graduates and are required to earn a master's degree in education.

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1. Singapore

Singapore's education system is the most highly regarded in the world, but it is also known as a "pressure cooker" for its intensity and strictness. Global comparisons of maths and science ability are often topped by Singapore's school system.